Daily News: September 25, 2018

Sterling Provides $20.5MM in Facilities to Pinnacle


Sterling National Bank provided senior secured credit facilities totaling $20.5 million to Pinnacle Climate Technologies.

The deal was sponsored by Taglich Private Equity, a New York-based, value-oriented financial sponsor focused on investing in the lower middle-market.

Headquartered in Eden Prairie, MN, Pinnacle and its subsidiaries have spent the last six decades designing and manufacturing a variety of climate control solutions serving a range of uses, from cooling a dairy barn to in-home heating. Its products are sold under several name brands, including Master, Schaefer, Remington, Americ and Stanley.

The company also has manufacturing facilities in Sauk Rapids, MN and Qingdao, China.